People’s Republic of China stamps fetch $126,000 in online-only auction

This group of 50 People's Republic of China stamps realized $126,000 in an online-only auction held Dec. 29 by Gordon S. Converse.
This group of 50 People’s Republic of China stamps realized $126,000 in an online-only auction held Dec. 29 by Gordon S. Converse.

A group of about 50 People’s Republic of China stamps – including a rare block of four Golden Monkey stamps – sold for $126,000 in an Internet-only auction held Dec. 29 by Gordon S. Converse & Co., in Wayne, Pa.

(WAYNE, Pa.) A group of about 50 People’s Republic of China stamps – including a rare block of four Golden Monkey stamps – sold for $126,000 in an Internet-only auction held Dec. 29 by Gordon S. Converse & Company, based in Wayne. The stamps, all 20th and 21st century examples and offered loose in a stack, not bound in an album, were the auction’s top lot.

Nearly 500 lots of Chinese and Asian objects were pursued by more than 300 registered bidders, who participated through LiveAuctioneers.com and the Gordon S. Converse website, at www.AuctionsatConverse.com. Bids poured in from three of the five continents, with most of the action coming from the U.S. and Europe. The stamps were purchased by a
bidder in China.


“We were surprised the stamps did as well as they did, but we underestimated the value of the Golden Monkeys,” said Todd Converse of Gordon S. Converse & Company. “Many of the lots, in fact, exceeded our expectations. With this auction, we made important headway into the burgeoning Asian market, which represents a new frontier of opportunity and business for us.”

It was the firm’s largest auction ever, in terms of total number of lots. Featured were stamps and currency, carved Zitan furniture and brushpots, seals and scrolls, bronze and jade, porcelain and bamboo. A lightly attended in-person preview was held at a gallery in nearby West Chester, and some, but not many, phone and absentee bids were taken. It was a true Internet sale.